Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 05-04-2010, 10:08   #16
Registered User
 
rdempsey's Avatar

Join Date: Jul 2007
Location: Ladner, BC, Canada
Boat: Newport 30
Posts: 101
Quote:
Originally Posted by GordMay View Post
A bet is worth making when the AFTER-TAX rewards are multiple of the cost to play, at least equal to the odds of winning.
Thats one nice thing about Canadian lotteries, NO TAXES!
Of course you have to win it before you don't pay any taxes on it!
__________________

__________________
SV Lorelei
"If you don't have anything nice to say,
then don't say anything"
rdempsey is offline   Reply With Quote
Old 05-04-2010, 11:33   #17
Registered User

Join Date: Jun 2008
Posts: 69
The best way to be better off while cruising is this, buy some assets, not liabilities. These will give you some extra cash every month to pay for living expenses. Get a subscription to money magazine to assist you in managing what you do make and read these 2 books: "the millionaire next door" and "rich dad poor dad"
__________________

__________________
malovich is offline   Reply With Quote
Old 05-04-2010, 13:48   #18
Registered User
 
RainDog's Avatar

Join Date: Jun 2009
Location: Varies
Boat: Pacific Seacraft 34 #142
Posts: 1,183
Quote:
Originally Posted by GordMay View Post
Here is a sampling of the odds of some of the World's Great Lotteries:

LOTTERY TYPE Odds 1 Chance in:
US PowerBall 5/45 + 1/42 80,089,128
Not to get too picky, but this number does not look correct.
__________________
RainDog is offline   Reply With Quote
Old 05-04-2010, 13:54   #19
Registered User
 
RainDog's Avatar

Join Date: Jun 2009
Location: Varies
Boat: Pacific Seacraft 34 #142
Posts: 1,183
Quote:
Originally Posted by Troubadour52993 View Post
Having a basic smattering of statistics, I buy a powerball ticket only when the payoff is greater than $80 million, because then at least it's a "fair game", payoff is commensurate with the risk.
This works better if you buy every possible combination of numbers. Someone actually tried that in the 80's when the Florida jackpot got large enough to make it worthwhile. They only made it about 1/2 way through the numbers, but they got the winner.
__________________
RainDog is offline   Reply With Quote
Old 05-04-2010, 13:54   #20
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,592
Images: 240
Quote:
Originally Posted by RainDog View Post
Not to get too picky, but this number does not look correct.
I'm beginning to agree; but I'm not a math's guy.
Help us out here.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 05-04-2010, 14:04   #21
Registered User
 
RainDog's Avatar

Join Date: Jun 2009
Location: Varies
Boat: Pacific Seacraft 34 #142
Posts: 1,183
Quote:
Originally Posted by GordMay View Post
US PowerBall 5/45 + 1/42 80,089,128
US The Big Game 5/50 + 1/36 76,275,360
I had trouble with these two side by side. Seems like 5/45 should have better odds than 5/50, even with the + values. If you run the numbers you get:

5/45 - This is "45 choose 5", which Google says is about 1.2 million. The 1/42 just multiplies it by 42, so it is about 51 million. So assuming the 5/45 + 1/42, the odds would be 1 in 51 million.

The other game is "50 choose 5", which Google claims is 2.1 million. The 1/36 multiplies it by 36, for 1 in 76,275,360.
__________________
RainDog is offline   Reply With Quote
Old 06-04-2010, 07:31   #22
Registered User
 
Troubadour52993's Avatar

Join Date: Nov 2009
Location: Grenada
Boat: Beneteau Idylle 15.5m
Posts: 160
Maybe they've changed the game a bit, I seem to remember the 1:80 million number. Obviously I haven't bought a ticket in a while, my gambling is limited to what's going to break next, and which hatch/portlight is going to leak next ;-)

The game doesn't know whether taxes are paid or not so I base a "fair game" payout on the game. If roulette paid 1:38 for a single number, it would be fair since there are 38 slots on the wheel. Alas, the payout is usually 1:25, an edge for the house. They also let you pay your taxes if you win.

One other difference is if 3 people bet on 13 on the wheel and it hits, the house pays everyone. The lottery splits the single payout. I remember one California lottery that went to around $50 million; people started pouring in over the Nevada border and buying tons of tickets. The actual payout was something like $58 million but 4 or 5 tickets hit. Some of those tickets were bought by groups that pooled their money. They profiled an individual who pooled with his bowling league buddies, he was getting something like $1300 a year for 30 years. I'd like that added to my cruising kitty, but not quite what you expect when you think of $58 MILLION <assume Dr Evil stance with pinkie to mouth> dollars.
__________________

__________________
Troubadour52993 is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
2 Would Be Cruisers - Not 1 Bill Balme Liveaboard's Forum 23 28-02-2012 07:03
Corpus Christi, TX - Harbor Lights Parade - WE WON! bstreep Fishing, Recreation & Fun 5 10-12-2009 10:15
Where are the Cruisers? Rising Star Meets & Greets 11 23-06-2009 21:09
Generator and Power Surge Protector Won’t Play Together Dream Maker Electrical: Batteries, Generators & Solar 3 10-07-2008 11:46
Hello Cruisers, sotavento Meets & Greets 3 02-05-2006 15:41



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 22:30.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.